Starting investing in real estate

Member since 2022 · 14 posts · 4 votes

Hi my name is Kevin and I am new to real estate investing, I am interested in meet up with same minded people who are interesting in investing in Oakland county real estate or other areas, I am in Farmington Hills /West Bloomfield area so lets get connected .

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Albert Bui

Lender · Bellevue WA & Orange County, CA · Member since 2013 · 2k+ posts · 1k+ votes

There’s definitely a lot of money in Oakland county MI with Farmington hills, West Bloomfield, and Birmingham, MI all located there.

Our team routineLy comes out to the DTW market mainly for UWM one of our lending partners but we’ve grown quite fond of the area over the last couple of years. There is a lot of potential over there because RV or rent to price ratios are extremely good relative to our west coast markets we’re used to. The 1.00% rule there is the norm while a good deal might be considered 1.5-2.00x and you’ll need different metrics and strategies when buying there versus buying in Miami, FL or Seattle, WA.

On the scale of appreciation/cyclical , hybrid market/strategy, or cash flow/linear market I’d say that market is mostly Linear/cash flow.

What are you looking to accomplish in your investing?

@Matthew Kwan

@Michael Haas

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Joe Chapman
Real Estate Agent · Novi, MI · Member since 2021 · 12 posts · 5 votes
3y
Quote from @Kevin James:

Hi my name is Kevin and I am new to real estate investing, I am interested in meet up with same minded people who are interesting in investing in Oakland county real estate or other areas, I am in Farmington Hills /West Bloomfield area so lets get connected .
I sent you a connect request.

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Jim WellingtonBusiness Member
Real Estate Agent · Saint Clair Shores, MI · Member since 2022 · 73 posts · 51 votes
3y
[email protected]586-204-2010
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Nathan GesnerBusiness Member
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Real Estate Broker · Cody, WY · Member since 2010 · 28k+ posts · 41k+ votes
3y
Quote from @Kevin James:

Go to NETWORK at the top of your screen and you can search for other investors and investment groups in your area. You can also check meetup.com or search facebook for real estate investment groups, clubs, or meetings in your area.

The DIY Landlord Book4.7247 Reviews
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Albert Bui
Lender · Bellevue WA & Orange County, CA · Member since 2013 · 2k+ posts · 1k+ votes
3y
There’s definitely a lot of money in Oakland county MI with Farmington hills, West Bloomfield, and Birmingham, MI all located there.

Our team routineLy comes out to the DTW market mainly for UWM one of our lending partners but we’ve grown quite fond of the area over the last couple of years. There is a lot of potential over there because RV or rent to price ratios are extremely good relative to our west coast markets we’re used to. The 1.00% rule there is the norm while a good deal might be considered 1.5-2.00x and you’ll need different metrics and strategies when buying there versus buying in Miami, FL or Seattle, WA.

On the scale of appreciation/cyclical , hybrid market/strategy, or cash flow/linear market I’d say that market is mostly Linear/cash flow.

What are you looking to accomplish in your investing?

@Matthew Kwan

@Matthew Kwan

@Michael Haas
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Albert Bui
Lender · Bellevue WA & Orange County, CA · Member since 2013 · 2k+ posts · 1k+ votes
3y
Quote from @Jim Wellington:

Nice this is very close to UWM in Pontiac, MI perhaps even considered “down the street.”

How have the meetup turn outs been?

@Matthew Kwan @Carlos Valencia We should try to organize a success track around our trip to make one these, thoughts?
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Carlos Valencia
Lender · 92703 · Member since 2022 · 326 posts · 538 votes
3y
yeah that be great! Talk to local investors and help familiarize ourselves with the market more for that area.
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Matthew Kwan
Lender · Seattle, WA · Member since 2022 · 482 posts · 768 votes
3y
Yes attending these local meetups can definitely expand your network and being familiarize your area when you're planning to invest
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